Energy futures resumed last week's rally in early trading Monday, but ran out of strength and closed in a slump.
Gasoline prices settled higher, but surrendered most of the sharp gains posted earlier on the New York Mercantile Exchange. Crude and heating oil closed mostly lower.
The June contract for leaded gasoline surged ahead by 1.86 cents a gallon before going into a tailspin and settling only 0.04 cent higher.
Tight gasoline supplies and growing demand have given energy futures a substantial boost in the last week, but the market remains uneasy and subject to abrupt reversals, said Peter Beutel, an analyst in New York with Rudolf Wolff Energy.